The general price levels of goods and services, according to Ghana Statistical Service, have further increased in the month of May - following price hikes by traders due to the coronavirus pandemic effects. General prices increased by 0.7 of a percentage point over the previous month, as it recorded 11.3...
Consumer inflation eased further in December 2023 - closing at 23.2 percent, down from November's 26.4 percent per data from the Ghana Statistical Service (GSS). This 3.2 percentage point decline aligns with forecasts, providing relief from the previously higher and persistent inflation. Cumulatively, inflation dropped 30.4 percent during 2023 while average...
Former Finance Minister Seth Terkper has said that the expenditure related to the coronavirus pandemic should not be solely considered as responsible for the widening fiscal deficit but rather what is driving the debt is the funds used to resolve financial institutions and energy sector debt which were excluded...
Budget deficit and its accompanying debt are key indicators in accessing the health of any economy. At the end of March 2020, Ghana’s public debt reached GHȼ 236.1 billion according to the Bank of Ghana. Of the total debt, US$ 22.9 billion is external representing 31.4% while GHȼ 113...
In a surprising turn of events, the headline inflation rate has dipped from 43.1 percent in July 2023 to 40.1 percent in August - defying market expectations. The Ghana Statistical Service’s (GSS) latest data indicate that the decline can largely be attributed to a decrease in food inflation - a...
The country improved marginally on budget transparency – scoring 56 out of 100 – indicating public access to information on how the central government raises and spends public resources, the Open Budget Survey (OBS) has revealed. This is an increase from 54 recorded in 2019. The Open Budget Survey (OBS)...
Nigerian banks plan to restructure over a third of loans after running into repayment problems due to the coronavirus pandemic, a member of the central bank monetary policy committee said. A total of 17 banks have submitted requests to restructure over 32,000 loans for businesses and individuals, representing 33% of...
As part of measures to close the yawning budget deficit gap created by impacts of the coronavirus pandemic, the central bank has triggered its emergency financing provision that will allow it to support government to the tune of GH¢10billion this year. Since 2016 when Ghana entered into an Extended Credit...
The Minister of Finance, Ken Ofori Atta, has announced that plans are advanced for the launch of a GH₵100 billion development programme aimed, among others, to revitalize the local economy, at the back of the difficulties brought by the outbreak of the coronavirus pandemic. The three and half years programme,...
Standard Chartered Bank Ghana Limited, has held its 2019 Annual General Meeting (AGM) on the backdrop of being awarded Africa’s Best Bank for Transformation at the prestigious Euromoney Awards for Excellence 2020 that recognized the top financial institutions in banking and capital markets globally. At the AGM to present the...